Frore Systems Raises $143M Series D at $1.64B Valuation — AI Chip Cooling Emerges as Foundational Infrastructure Constraint

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Frore Systems closed a $143 million Series D led by MVP Ventures with participation from Fidelity, Qualcomm Ventures, and Mayfield, reaching a $1.64 billion valuation and $340 million total capital raised. The company's LiquidJet Nexus direct liquid cooling system targets NVIDIA Kyber ½U compute trays, delivering 2x compute density per rack with 65% less thermal stack weight. Global AI compute demand projected to grow 3x by 2030 is driving investor conviction that thermal management is now a primary bottleneck — not silicon.